Jammu & Kashmir Bank Q3 Results: Net profit jumps 35% YoY to Rs 421 crore

Kolkata: Jammu & Kashmir Bank on Saturday reported a 35% year-on-year jump in net profit at Rs 421 crore for the December quarter, backed by Rs 75 crore net write-back on bad loan provisions. Net profit was Rs 312 crore.

Net interest income, the difference between interest earned and interest expended, remained almost flat at Rs 1280 crore as compared with Rs 1258 crore in the year-ago period. Operating profit also saw margin rise at Rs 551 crore against Rs 544 crore.

The bank's gross non-performing assets ratio fell to 4.84% at the end of 2023 against 7.25% a year back. Net NPA was 0.83% against 2.08%. Its gross advances rose 14% year-on-yer to Rs 93627 crore.